QUESTION
What will happen if I don’t relinquish the car if I’m getting phone calls from a recovery company about a felony warrant for defaulting on my loan?
Asked on Apr 18th, 2014 on Bankruptcy - Michigan
More details to this question:
They told me not to even bother calling the title company unless I’m going to pay in full because they’ll just lie to me, take whatever money I give them, and still take my car. As well as other outlandish things.
4 ANSWERS
Insurance Law Attorney serving Pasadena, CA
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KJM Law Partners
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You cannot be prosecuted criminally for defaulting on a loan. I would seriously question whether the phone calls that you are receiving are a scam.
Answered on Apr 21st, 2014 at 4:53 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
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I need the details but it appears that the actions are in violation of the law and could lead to a collector liability.
Answered on Apr 21st, 2014 at 4:53 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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If you defaulted on your car loan they have the right to repossess it unless you pay off the car loan. SO keep all your possessions out of the car so you do not have trouble getting them back if they take it in the middle of the night. They do NOT have the right to charge you with a crime. If they lie to you, you may have the right to charge them with violations of several state and federal statutes.
Answered on Apr 21st, 2014 at 4:52 PM
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
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The only possible crime is concealing collateral. Nonpayment of a loan is not a crime. I would not trust a title lender, but if you can work something out with them and document it, why not.
Answered on Apr 21st, 2014 at 4:52 PM